GBPUSD Forecast

The GBPUSD was able to maintain its bearish bias yesterday, hit a fresh low at 1.5606. There are no changes in my technical outlook. The bias remains bearish in nearest term as a part of the bearish scenario after broke below the trend line support and EMA 200 testing 1.2600 – 1.2550/15 area. Immediate resistance is seen around 1.5650. A clear break above that area could trigger further bullish correction testing 1.5735 but any upside pullback now is normal and I still prefer a bearish scenario with sell on rallies strategy.

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